How to Invest in a Tech-Powered Pharmacy That Aims to Upend the $480B Retail Industry NowRx uses proprietary software, robotics, and local micro-pharmacies to deliver medications in hours for free. Now you can invest in the private startup.
By Entrepreneur Store Edited by Jason Fell
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Amazon can bring virtually anything from an air mattress to a Nerf gun to thumbtacks right to your doorstep within 24 hours. GrubHub can land potstickers or sandwiches or a fresh salad there in a matter of minutes too. So why can't you get a reliable and fast door-to-door delivery on something you might really need? Something like…prescription drugs?
That's where NowRx comes in. The tech-powered pharmacy chain offers a simple, hassle-free way to get your prescriptions delivered in hours at no extra cost. Founded in Northern California, NowRx has steadily grown to over 8 locations and $25M in annualized revenue as of November. Now the company is poised for rapid national expansion and enlisting investors who see the promise of disrupting the $480 billion retail pharmacy industry.
The key to NowRx's success? Proprietary software and robotics plus minimal overhead expense that ultimately leads to a superior customer experience.
And that superiority is supported by both patients and doctors. Where other pharmacy delivery competitors have garnered an alarming number of 1-star Yelp reviews (Amazon Pill Pack at 80 percent and Capsule at 32 percent) NowRx has received 1-star reviews less than 1 percent of the time. In fact, all eight of NowRx's locations currently hold an incredible 5.0 rating from Yelp reviewers.
The NowRx model is surprisingly simple. It starts with patients or doctors sending a prescription to their local NowRx - the same as they would any other pharmacy. However, unlike other pharmacies that use manual processes and older software, NowRx utilizes a proprietary pharmacy management software "QuickFill" and dispensing robotics to receive, process, bottle, and dispense the prescription in under 30 seconds - all while minimizing errors that produce delays like insurance issues, miscommunication with physicians, etc.
Once NowRx confirms your order and address, they go the extra mile by offering free delivery right to a patient's home. It's promised to be on your doorstep in two to four hours, or within just 60 minutes for a $5 expedited order. Meanwhile, the customer only pays their insurance copay to receive that extra handy home delivery.
That intriguing recipe for success has already generated enormous interest for the company's investment rounds, as more than 10,000 people have purchased shares since they became available on SeedInvest in 2016. Over that time, NowRx's share price has increased 1,650 percent and it looks like there could be a lot more room to grow.
In 2021, NowRx also expanded their offerings to include telehealth services that show promising growth. From Q1 to Q3, revenue from telehealth services alone saw 1,081 percent growth providing another significant growth avenue for the company.
NowRx looks poised for massive growth and could offer some investors a very promising opportunity as they look to expand nationally. The company is currently raising a record $73M through equity crowdfunding on SeedInvest and Investor Place recently highlighted the company as 1 of the 7 Best Startups to Buy Now From Across the Internet.
You can also learn more about the NowRx investment opportunity through the company's investment page here.
NowRx is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from: NowRx
